jbunn, not until we are talking about offers for Germany. There are a few topics I don't follow very closely on these forums -- financing, leasing, EV incentives and electrical wiring are among them, because as they are discussed here they have no relevance whatsoever for me in Germany. Thus, I apologize, you're on your own with this one.

kelly | 24 Ottobre 2012

I thought jbunn was talking about Paul Volker and higher interest rates coming in the near future! lol

Volker.Berlin | 24 Ottobre 2012

That would be Paul Volcker, right? Nice try! ;-)

JosephA | 25 Ottobre 2012

This is just fantastic! I Just got a call from my local credit union Here in Huntington Beach CA. They called to tell me i just was denied my loan for 80k Because they felt the car was "experimental" and they could NOT find enough information, residual values, etc. They weren't even sure what the car would be worth if they had to repo it. Can someone shed some light one this. Perhaps someone that does have lending already. What did their banks have for data? My credit score is perfect 780 i make enough monthly income. They said just not enough info on any of the major car sites. KBB.com etc. I am Signature sport 203. Help me!

GoTeslaChicago | 25 Ottobre 2012

JosephA

Recommendation #1 a bigger downpayment can go a long to making the lender more secure.

Thank you! applied with another bank penfed and will report back here with the details. :)

TINO F | 25 Ottobre 2012

PenFed has great rates. Do post if they loan on the Tesla.

lgagliardi | 25 Ottobre 2012

I got a penfed loan for 1.49%! It was easy. For that price, i'd rather take the loan out than use my cash!

lgagliardi | 25 Ottobre 2012

I meant for that rate - not price.

TINO F | 25 Ottobre 2012

Thank you for the post on PenFed. I did join, and the money is practically cost free.

JosephA | 25 Ottobre 2012

lgagliardi
Can i inquire about what the details are of your loan... For example.. You fico over 720?. What model s are you getting. I imagine a signature. It looks like im going to have to put down an extra $10k more because it looks like they only go up to $70k. With the car being somewhere around $120k the $40k deposit plus the additional 10k. That is an AMAZING LTV. I have great credit. However im worried i have too many inquiries on my credit. Was it a fast process?

I Haven't applied yet since Im in the slow lane for a build date. I understand that they are very quick, and yes, it is a max loan of $70k... Not worried about the approval with my FICO score, but will wait until I get an idea of a delivery date, and it seems like that date is usually Extended a couple weeks. Has anyone applied at USAA?

JosephA | 5 Novembre 2012

Ok... Here goes! So i did apply for penfed.. Got approved for 35k. Not enough unless i wanted to come in with more money. I didnt really want to considering the 40k i already put down.They didnt see high loans on my credit other then the houses. I was going to take a private loan out and was 2 seconds to making it happen when I decided to see what Tesla's partner wells fargo would do. Boom all 80k financed at 3.99 percent 60 months. I instead turned the pen fed approval into a credit card with a high limit. Just an fyi. I got a call last week on the 29th of septmeber saying.. not only the car was ready for me. But that it was less than 4 miles away.. at that point all the above went down. I couldnt sleep for 3 days untill i finally made everything happen on thursday. There was no warning it is coming. The "my garage" is not up to date at all. Seriously I cant describe this thing. I seriously almost started to cry when they took me to see it. Ive waited 4 1/2 years for this thing. I ordered it when i was 26. There is NO other car that even compares. NONE.. Here in orange county CA eveyone wants to trade in their Bentleys and Maseratis for this car. I cant wait for the X! Thank you Elon and Team!

Tiebreaker | 6 Novembre 2012

Good for you, Joseph! Congratulations!

Usmclsc | 6 Novembre 2012

Joseph, that is AWESOME! My wife and I are retired from the military, and although we are having to scrounge to get the Model S (Performance version), both of us are in love with it! We posted it on our Facebook page and have had literally dozens of people commenting on how much they LOVE the car and want to ride in it! We're planning to finance with Navy Federal Credit Union whom we've been with for decades. They currently have a 1.79% rate up to $100 grand. I haven't applied for it yet since we just got on the list and are #13413. I hope production ramps up enough as Elon indicated so TMC gets to us sometime in 2013. At least it gives us time to save a substantial amount of the cost of the car so we can borrow less.

GoTeslaChicago | 30 Novembre 2012

Now that cars are being delivered in volume, any financing tips or troubles you want to share with the list?

Aleksandyr | 30 Novembre 2012

second that! need to get my financing set-up for a possible late Dec, early Jan delivery

skystream3.7 | 30 Novembre 2012

what is your number? P????

Azdcmoney | 3 Dicembre 2012

I just got 2.88% 60 month from BofA, however, they will only loan 75% of purchase price

jchangyy | 3 Dicembre 2012

Hmmm.. B of A website states 2.64%...

jd3tm | 3 Dicembre 2012

For me, Penfed worked GREAT! All you have to do is spend $15 to join one of the required supported non-profits (I joined American Military Families) and you have access to the 1.49% New Car loan!

Applied over the website (to get that rate)! Don't call them or I don't believe you can get that rate.

Paperwork showed up in a few days, along with Blank check which I made out to Tesla when the Model S was delivered.

First payment due end-December for My Model S that I received on November 2nd.

cheers

Aleksandyr | 3 Dicembre 2012

jd3tm- how much did they allow? I was interested in PenFed. thought there was a limit of 70k?

jinglehyme | 3 Dicembre 2012

VIN 1605 - I went with the Tesla preferred lender Wells Fargo Bakn, who incidentally already had two of my mortgages - $65K for 60 mos at 2.99 works out to $1167.58 per month.